Question for those looking or have left.
How do you balance the difference between salary and PTO days at a potential employer? Does less money and PTO days automatically disqualify them or do you look at the overall culture of the other employer and how employees are treated?
I hate to even be looking but the uncertainty is overwhelming and handing over work to other folk who have no clue what my job is has truly pushed me to start looking outside. Even it means a $8k salary dip and loss of 6 PTO days.
12 replies (most recent on top)
I was laid off last October and ran the severance and unemployment to the end and about 2 months after that. I did manage to find a new job and it pays more than I received at Evernorth but the best part is the new company matched my PTO time so no loss in PTO.
In the final analysis having my job eliminated was one of the best things to ever happen to me. I’m happier, make more money and was given the choice (not demand) of when I wanted to be in the office. It had to be at least 1 day or all 5. Turns out nearly all of the team is in the office tues-thurs so that’s what I agreed to. Amazing what a carrot can do that a stick cannot.
I left and did take a paycut and lost some PTO after having been at Cigna for a long time. My new employer has better benefits for less money, match more on 401k, and an environment that’s not toxic and full of anxiety.
I jumped ship a few months ago after 7 years at Cigna. I took a $6/hr paycut and 5 days less PTO… I don’t care though. I am SO much happier. I have more time for myself and my family. My new company actually cares about their employees, gives perks, and a very pleasant place to work. Happiness does matter. I wish I would’ve done it sooner. I was scared. The first week at the new job, I wondered if I made a mistake. I was terrified of the paycut. In the end, it all worked out and I’m the happiest I’ve been in a long time.
I'll jump ship as soon as possible. Even if I have to take a slight pay cut.
My only regret is that I didn’t leave sooner. Also, my current employer brought me on with PTO accrual rate of a tenured employee. Don’t assume everything starts at ground zero. You might be pleasantly surprised.
My last job I had 30 days of PTO but that was because of how long I had been there. There was very little flexibility when working, you literally had to be sitting at your desk 8-5 M-F. Being here now, when I was getting hired, I negotiated with HR 25 days off, better pay and it’s extremely flexible. I don’t think it’s not all the company but also in what part or industry you work, organization and your manager.
I was one of the very first “job eliminated”. I’ve lost about half my PTO days (I was at Cigna almost 15 years). My salary without bonus is about the same. However I am so much happier! So. Much. Happier. If you can, get out, if you stay and wait for the severance, say thank you. Take some time for you then go out and do something that makes you happy.
Also pay attention to your 401k vesting period and fees if any, HSA and if the company contributes, if FMLA is available and other insurance options (life, short term, etc). Had I paid attention to these categories more than PTO (because really who can take all those hours off anymore?) I would have stayed as long as I could. I jumped ship for another reason and that was simply that I kept hitting a promotion ceiling, but in retrospect the company culture I found at the new position was what OP actually stated below, nothing but a buzzword...and to boot I knew the people. Take your time if you can.
"Cigna is pretty generous with PTO and 401K."
Overall, I would call it middle of the road, not bad, but not generous. Many companies offer more PTO and don't limit the amount you can roll over. I know people with hundreds of PTO hours banked up ready to be cashed out when the quit . As for 401K, Cigna is also about average. I used to work for a company that continued to match at higher % and provided annual profit sharing into 401K.
Cigna is pretty generous with PTO and 401K.
I doubt many employers will beat either of those offerings.
I break everything down into a math formula. Only you can put a number on what your time is worth to you. Add all of that up and compare it to the other company's total package. Consider 401K matching, PTO, bonuses, insurance, etc. You know, stuff that can actually be measured in dollars. Time = money.
Many people would much rather have money than PTO. In that case, value your PTO less than the hours you'd be working. I typically value mine the same. Personally, PTO was my favorite Cigna perk. It no longer is since I have no job stability and am afraid to actually go spend a lot on a vacation now.
"Culture" is some silly HR fantasy buzzword BS that should not be considered - unless you personally know people on the team you will be joining that can vouch for it. Culture is one of those things HR tries to sell you when they want to pay you less. Every company swears they have the best culture ever - but you'll never actually know until you work there. Different teams within the same company can have wildly different cultures.
Good luck!
I would look at PTO days offered at other employers from the base level cigna offers. If you’ve been at Cigna for 5 years of course you will have more PTO days than external employers since you start from the lowest level.
From there it just comes down to salary and health benefits comparisons